Alaska Statutes.
Title 21. Insurance
Chapter 42. The Insurance Contract
Section 70. Insurance Without Interest, or of Wager, is Void.
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AS 21.42.070. Insurance Without Interest, or of Wager, is Void.

(a) A stipulation in a policy of insurance of property for the payment of loss without regard to absence of an insurable interest in the property on the part of the insured, or that the policy shall be received as proof of the interest, is void.

(b) A policy executed by way of gaming or wagering is void.

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